Ethereum Classic (ETC) has bucked the general downtrend across cryptocurrencies to rise almost 15% against Bitcoin in 24 hours.

ETC Surfs All-Time Highs, BTCC Unveils New Exchange

The Ethereum fork, which has been gaining increasing publicity in recent months, was the only asset in the top ten to post positive performance in USD as a Bitcoin slide caused many others to drop.

At press time, ETC was trading around $23 per coin according to Coinmarketcap averaged exchange pricing. The price is only around $1 away from the all-time highs seen earlier in June.

While confusion initially reigned as to why ETC had suddenly shot up against Bitcoin, Chinese exchange BTCC’s announcement that it would shortly open its BTC/ETC trading pair on a new platform coincided with the uptick.

It was the second time in a week that ICO-related activity had caused serious problems for all Ethereum users. Previously, both Civic’s and Status’ sales had placed pressure on nodes, while a separate huge sell order placed on exchange GDAX caused temporary yet considerable ETH price volatility.

A post from the exchange examining the effects of the sell, which was worth around $30 million, confirmed some orders from other users had filled at a cost of just $0.10 per ETH – a tiny fraction of its $330 market price.